A perfectly competitive market
a. may not be in the best interests of society, whereas a monopoly market promotes general economic well-being
b. promotes general economic well-being, whereas a monopoly market may not be in the best interests of society.
c. and a monopoly market are equally likely to promote general economic well-being.
d. is less likely to promote general economic well-being than a monopoly market.
b
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If the value of the Herfindahl index is 10,000 . there must be exactly one firm in the industry
a. True b. False
The primary cause of inflation is
a. large budget deficits. b. high taxes. c. rapid expansion of the money supply. d. government expenditures that are large relative to the size of the economy.
In general, the IMF provides developing countries with:
A. loans and lets these countries decide how the loans will be used. B. technical advice but does not provide them with loans. C. loans, but only if the government adopts certain policies specified by the IMF in return. D. neither loans nor technical advice.
Consumer theory predicts that a consumer will purchase the product with the highest marginal utility per dollar.
Answer the following statement true (T) or false (F)